This article is a complete setup guide for Ledger Nano X. What is Ledger Nano X? It is a hardware wallet for storing cryptocurrencies safely. We’ll go through the Ledger Nano X step-by-step and show how to make transactions in and out of your wallet.
Ledger Nano X: General information
Nano X is a cryptocurrency wallet made by French tech company Ledger. It is a new version of the very popular Nano S cryptocurrency wallet. Deliveries of Nano X started in spring of 2019.
Ledger Nano X is a hardware wallet, which is also called a cold wallet. It means, that your precious private keys are stored offline. The opposite is a hot wallet, where your keys are stored online. A cryptocurrency exchange or any other online service would qualify for that.
The older model, Nano S, has become very popular in the past two years. It’s used by both small investors and professionals and Nano S hasn’t failed in security. The release of Nano X doesn’t make Nano S obsolete.
Nano X gives you more features and it allows you to store more cryptocurrencies and wallets inside the device. Nano X is also meant to be used with your mobile phone via Bluetooth, while Nano S is connected to your computer via USB cable.
Ledger lowered the price of Nano S about 50% when Nano X was released. Hence, the older model Nano S is a budget option for those, who don’t need all the Nano X features.
Ledger Nano X is managed with Ledger Live app, which might be familiar to you already from Nano S. It’s the very same software. Since Nano X can be used wirelessly with mobile, our instructions are for mobile device installation as well.
Leder Nano X setup, part 1: Ledger Live
You’ll first see a screen saying Welcome to Ledger Live and a button Getting Started. Start the install by clicking this button.
Next, the app asks you to pick the correct device. Select Ledger Nano X.
Once you have chosen the device, you’ll see four options:
- Import desktop accounts
- Initialize as new device
- Restore from recovery phrase
- Use initialized device
Since we are installing a new device, select option number two.
Leder Nano X setup, part 2: Initializing your device
Next, the Ledger Live app asks you to start your Nano X device. The Nano S had two small buttons on the side, which you had to push simultaneously to select or confirm actions. Nano X has two big round buttons instead, one of them being black and one is grey.
The Nano X box doesn’t contain any instructions, really. It just tells you to download the Ledger Live app and follow the online instructions.
Nano X is asking next to click the right button to continue. Once you have done that, the device makes sure you have downloaded the Live app. After that, more on-screen instructions follow. When you want to confirm or accept something, you click both buttons at the same time.
Once you have walked through the instructions, you’d see this on the screen of your Nano X: Set up as new device. Click both buttons to confirm and to start the setup process.
Leder Nano X setup, part 3: PIN code
Nano X asks you next to choose a PIN code of 4 to 8 digits.
IMPORTANT: Select a code you won’t forget under any circumnstances. You need this every time you use Nano X.
Click both buttons at the same time to pick a PIN code. Use the left or right button to browse numbers up or down. Once you have found a number you like, click both buttons to confirm it. The icon looking like <[x] after zero will remove the previous number.
Nano X allows you to confirm a PIN code of four (4) digits, but you can also use 5, 6, 7 or 8 digits if you want. After saving the PIN code, Nano X asks you to confirm it as well.
Leder Nano X setup, part 4: Recovery phrase
Next, you’d see the following text on your Nano X: Write down your recovery phrase. This is a phrase consisting of 24 words and these words are the key to your Nano X. Anyone who has them gets access to your cryptos.
IMPORTANT: The recovery phrase is the single most important piece you’ll hold. You have to look after it more carefully than your Nano X device. If you lose the Nano X, you can always just buy a new one. But if you lose the recovery phrase to someone else, your funds are gone. Don’t ever store this recovery phrase near your Nano X. Don’t take a picture of it to your phone.
Think carefully where and how you will store the paper. It’s not a bad idea to cut it in two or more pieces and store them in separate locations. There are three pieces in the Nano X box you can use to save your phrase.
Click both buttons on your device to continue. Next, Nano X is warning you of exactly the same thing you just read in this article. Click the right button to move on to the first word.
IMPORTANT: It’s critical to write down each word clearly, so you don’t have any problems reading them afterwards. Write down the first word as shown in the Nano X and click the right button to continue. Write down the second word and continue until all 24 words are done. After this, you’ll have to confirm these words to make sure you stored them correctly.
In the confirmation process, Nano X is giving you several options for the first word. Browse them, select the correct one and confirm with both buttons. Continue this process until you have confirmed all 24 words. If you have done everything correctly, you’ll see the following text on your Nano X: Your device is now ready >
Click the right button to continue and you’ll see the words: Access Dashboard. Click both buttons to enter the dashboard of the device.
You have now initialized your Ledger Nano X device.
Leder Nano X setup, part 5: Connecting Nano X and Ledger Live
Next, it’s time to connect your mobile phone and Nano X. Go back to Ledger Live app on your mobile. Before moving to Nano X, we were at part three of the setup process, where Ledger Live was telling about the PIN code. Click the Continue button to move forward.
Ledger Live gives you next some additional information about backup codes, which we went through already. Continue.
You’ll then see some security questions, which you must answer. Proceed through and you’d see the following picture on your Ledger Live app.
IMPORTANT: Make sure you have Bluetooth enabled on your mobile before you continue.
Now it’s time to connect the devices. Click the Add new Ledger Nano X button. It’d take about 10 seconds from the Live app to find your Nano X device. If this happens, you’ll see a Bluetooth confirmation code on your Nano X, which you then have to confirm by clicking both buttons.
Next, Ledger Live app asks you to input a password.
IMPORTANT: This password is for Ledger Live app only. It prevents unauthorized use in case your mobile phone is lost. After typing in the password, you can change it to fingerprint recognition if your mobile device supports it.
HELP: You might encounter a problem in connecting the devices. Should that happen, go to the dashboard of your Ledger Nano X.
Select the Control Center and hold both buttons simultaneously for a few seconds for it to open. Choose then Settings -> Security -> Reset Pairings. This will reset all Bluetooth connections from Nano X. Your mobile phone should then find Nano X without problems.
Leder Nano X setup, part 6: Creating accounts
Now your Ledger Nano X is initialized and connected to the Live app. Next, we can create a cryptocurrency wallet.
Open the Ledger Live app from your mobile phone. You’d see the following picture because there are no apps or accounts installed yet.
Select Manager from the footer menu and your Nano X from the options that follow.
After this, you’ll see a list of all cryptocurrency apps that Nano X currently supports. Begin by installing the Bitcoin app. The installation should start immediately and take about one minute. After it’s done, you’ll see a small Bitcoin app icon on your Nano X.
Now you can create Bitcoin accounts, which means Bitcoin addresses in practice. Click Go to accounts from the Live app. After this, the Live app asks you to open the Bitcoin app from Nano X as well. Do that and the synchronisation process begins. It’d take about 10-15 seconds.
Ledger Live App gives you now an option to add a new account. Select the Bitcoin 1 Segwit row and click Continue. Now you’d see your new wallet under Accounts.
You can add different cryptocurrency accounts the same way. First, you need to install the app for each cryptocurrency. After that, you can create as many accounts as you want.
The Ledger Nano X setup is now complete!
How to receive transactions with Ledger Nano X
Your brand new Ledger Nano X device is now initialized, but it’s still empty. Let’s move some cryptocurrency in it. You probably have some Bitcoins in an exchange or in an online wallet you want to move to Nano X for more security.
Open Ledger Live app and select Transfer from the footer menu and then Receive. Click the Bitcoin account we created earlier. Next, the Live app asks you to open the Bitcoin app from Nano X too. You’d see a text Application ready on your Nano X.
Next, the Live App asks you to confirm that the receiving address is the same in the Live app and on your Nano X screen. This is just a security measure. You’ll see the address after clicking Continue in the Live app.
Now it’s time to make a Bitcoin transaction to that address from any wallet you want.
You get the screen cleared by approving the transfer from Nano X by clicking both buttons (see the image).
IMPORTANT: It’s always a good idea to make a small test transfer first when using new services or devices.
Bitcoin transaction shows fast on your Nano X, but it takes few confirmations until it can be sent forward.
How to send cryptocurrency with your Ledger Nano X
Sending cryptocurrency with your Nano X is as easy as receiving it.
Open the Live app from your mobile phone and select Transfer from the footer menu followed by Send. Next, the app asks you to scan the QR code of the receiver. Scanning the QR code is by far the best and easiest way to input the receiver’s address. You’d never type it letter-by-letter but at minimum use copy-paste.
Once you have input the receiving address, click continue. Live app asks you next to input the amount of crypto you want to send. Finally, a summary is shown on the screen.
Next, the Live app asks you to open Nano X and the correct cryptocurrency app. If you are sending Bitcoins, you need to open the Bitcoin app.
Once you have selected the app, Nano X asks you to review the transaction information as well. If everything looks ok, you just confirm the transaction.
Ledger Live app should broadcast your transaction to the Bitcoin network in about 20-30 seconds. The receiver then gets it after a couple of block confirmations – the exact time depends on the wallet software being used.
Using the Ledger Nano X recovery sheet
As mentioned earlier, the 24-word recovery sheet is the most important piece in your Ledger puzzle. If you lose the recovery sheet, a hostile actor can initialize a new Nano X device with them and get access to all your crypto possessions.
You might need this sheet yourself in following situations:
- You forget the PIN code to your Nano X
- Your Nano X is stolen or lost
- Your Nano X has a technical issue
All these events are very unlikely, but you better know what to do, should they ever occur. This is why we recommend trying the device recovery before moving a large number of funds in it.
IMPORTANT: You should remember that your cryptocurrencies are never stored on your computer, on your Nano X or any other device. Cryptocurrency is always stored in its blockchain. What you store in your Nano X is the key to access those funds.
Ledger hardware wallets enable easy and secure private key management. When you set up your device, a unique master private key is created by Ledger’s secure hardware and software. As all your private keys and public addresses arise from your master private key, you can manage many accounts and crypto assets with a single device. (Ledger)
Ledger Nano X recovery is not a difficult process. See the video below for a step-by-step guide.
After completing the process in the video, you need to also re-install the apps to your device.
Ledger Nano X general information
Ledger Nano S has become the most popular cold wallet in the past two years. It is used by small investors and whales alike. Ledger has also integrated the wallet to popular services like Binance DEX.
Nano X is the latest release from Ledger. You can store over 100 crypto apps and more than 1000 wallets to it. This should be enough for professional use as well. The price is also in the same range as Nano S had last year.
Ledger Nano X is built to be a portable device, which connects to your mobile phone via Bluetooth. Hence, you don’t need a laptop anymore to send and receive funds.
IMPORTANT: Never ever buy Nano X from anywhere else but Ledger’s official website. You might be scammed and could lose all your cryptos. Always buy a brand new device from the official manufacturer.
NOTE: If you want to improve your security regarding the 24-word recovery sheet, we recommend checking a product called Cryptosteel. It’s a plate made of stainless steel, which can withstand any imaginable condition. You can even bury it on the ground or under water. It will also survive fire.
AboutBitcoin.io strongly recommends Ledger Nano X for everyone, who wants to store their cryptos safely.
One final comment. No wallet is ever 100% safe and each storing solutions have its weaknesses. Even if you’d buy Nano X, it’s still a good idea to split your cryptos to multiple wallets. Remember, that in the crypto world, everyone has the responsibility for their own security. You must do all the measures you feel is needed to secure your precious cryptocurrency.